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MATSA RESOURCES: SHAREHOLDERS WIN ON RED DOG

Perth, Jan 11

Chalk up another success to Matsa Resources’ small-scale mining strategy at its Lake Carey project area in Western Australia.Matsa has overcome weather delays to complete a 4-month mining campaign at its 100%-owned Red Dog deposit, delivering 12,704oz gold at AISC of $A1,288/oz and generating a cash surplus of $5.5M.Red Dog follows similar success with Stage 1 of the Fortitude project in mid-2018, and Matsa is now assessing two other small deposits at Lake Carey for possible development this year.Exec chairman Paul Poli says Matsa will reward shareholders with a maiden 0.2cps dividend.